On June 4, at a meeting with the heads of leading global news agencies on the sidelines of the St. Petersburg Economic Forum, Vladimir Putin stated that Russia is ready for negotiations with Ukraine based on the terms supposedly agreed to with Trump in Anchorage this past August. Putin also spoke of where and why the Oreshnik ballistic missile was used. In addition, he cited his own figures for losses incurred by the Armed Forces of Ukraine, called on Armenia to “make up its mind,” and praised the far-right Alternative for Germany party.
The spirit of Anchorage
Putin stated that Russia remains ready for peace negotiations — but insists on the so-called “Anchorage formula.” According to Putin, the compromise reached with Trump at their summit in Alaska on Aug. 15, 2025, should form the basis of any future agreements. Putin said that a ceasefire prior to negotiations is unnecessary, recalling that in 2022 the parties conducted talks in parallel with combat operations.
When an American journalist asked what matters more — the Donbas or the deal — Putin responded with a counter-question: “What makes you think these are mutually exclusive?” He urged the EU not to supply weapons to Kyiv, insisting that Europe, too, accept his purported compromise proposal. Putin also added his opinion that Ukraine's “ruling circles are not yet ready for this.”
On the question of Zelensky’s legitimacy, Putin took an evasive stance. The main thing, he said, is “to have the will.”
While Putin was speaking with journalists, Zelensky sent him an open letter proposing a personal meeting organized in line with a ceasefire and the participation of the United States and Europe in negotiations.
The Oreshnik and the course of the war
Putin “confidentially” told journalists that there had effectively been no combat use of the Oreshnik against Ukraine. The most recent launch was ostensibly carried out for training purposes in a location where “it was convenient to observe the results.” He named the targets as Bila Tserkva in the Kyiv Region and a certain fortified AFU position in the Donetsk Region. Putin did not rule out full-scale combat use of the Oreshnik, including against urban areas, emphasizing that “tests” like the one in late May are conducted specifically to assess the likely results of such a strike. The Insider has previously explained why the Oreshnik is, in fact, a low-precision weapon and cannot be used for targeted strikes.
As for the situation on the front, Putin claimed that Russia controls the entire territory of the so-called “Luhansk People’s Republic,” more than 85% of the “Donetsk People’s Republic,” and around 80% of Ukraine’s Zaporizhzhia region. He added that over the past month the Russian Armed Forces, according to his figures, have seized approximately 2,400 square kilometers. Putin stated that the Armed Forces of Ukraine are losing around 40,000 personnel per month. He described Ukraine's mobilization as “grabbing people like dogs.”
European affairs
Putin used the question of Germany's role in the negotiations to explain why Europe cannot serve as a mediator in the conflict, claiming it is allegedly directly involved in the war as a supplier of weapons to Ukraine. He called former Chancellor Gerhard Schröder “an excellent negotiator,” but complained that he is viewed in Europe as an impermissible mediator because of his ties to Russia.
As for the Nord Stream pipelines, the Russian president stated that one line of Nord Stream is intact and ready to operate at any time. “All it takes is to press a button,” he said, adding that Gazprom is ready to resume deliveries. The pipeline, according to Putin, is under sanctions, so it is necessary to negotiate with “partners” in order to reach a solution. Additionally, Putin claimed that it was Europe that had refused to purchase Russian energy, allegedly as part of a plan to effect economic collapse in Russia.
According to Putin, the reason why the Alternative for Germany has surpassed other German parties in popularity is that its leaders “can clearly articulate the interests of the German people and the German economy.” Russia, he said, welcomes all German political forces — the AfD or any other party — that wish to restore and develop relations with Moscow.
AfD politicians — most notably Bundestag member Markus Frohnmaier, the chairman of the party's branch in the state of Baden-Württemberg — are participating in the SPIEF.
Armenia, Iran, Kazakhstan
Putin presented Armenia with a choice when it comes to the EU accession process, reiterating that Armenia is still a member of the Eurasian Economic Union, whose standards are “incompatible with European ones.” “We want the Armenian leadership to determine sooner which side it is on,” he said.
On Iran, Russia's position as voiced by Putin is “not straightforward from a political standpoint.” He described Russia as a potential mediator that is “ready to lend a hand” in resolving the conflict. Putin characterized the notion that Moscow is the main beneficiary of the war in Iran as “speculation.”
As for Kazakhstan, he said Russia shares “constructive relations” and a common history with the country, promising to continue the joint extraction of Kazakh uranium.
Economy
Putin commented on the state of the Russian economy by quoting Mark Twain: “The report of my death was an exaggeration.” He claimed that real household incomes have grown by more than 25%, real wages by a quarter, that the poverty rate has fallen to 6.7%, and that the national debt stands at 15.6% of GDP, noting that France's is over 100%. Inflation, in Putin’s telling, is returning to its target of 5.4% thanks to the central bank's tight monetary policy.
When asked about the 2030 presidential elections, Putin replied that it is “far too early” to talk about this, adding that “only God knows whether I'll have the health for it.”
